Risk hedging for operations; innovation-finance interface; operations-climate interface; supply chain finance.
Stochastic control and optimization.
Book Chapters
L. Wang, D. D. Yao (2019). Data and Risk Analytics for Production Planning. Foundations and Trends in Technology, Information and Operations Management 12 (2-3): 201-218. P. Kouvelis, L. Dong and D. Turcic (eds), NOW Publishers Inc., Boston - Delft 2019.
L. Wang, D.D. Yao (2017). Integrated Production Planning and Risk Hedging. Integrated Risk Management in Supply Chains: 105-127. P. Kouvelis, L. Dong and D. Turcic (eds), NOW Publishers Inc., Boston.
Journal Publications
L. Wang, J. Yao and X. Zhang (2023) How Does Risk Hedging Impact Operations? Insights from a Price-Setting Newsvendor Model. Management Science 70 (7): 4912-4931.
L. Wang and D.D. Yao (2023) Production Planning with Risk Hedging Under a Conditional Value at Risk Objective. Operations Research 71(4):1055-1072.
L. Wang (2021) Mean–variance Hedging for Production Planning with Multiple Products. Production and Operations Management 30 (10):3497–3522.
L. Wang, D. D. Yao (2019) Risk Hedging for Production Planning. Production and Operations Management 30 (6):1825-1837.
L. Wang, D.D. Yao (2017) Production with Risk Hedging — Optimal Policy and Efficient Frontier. Operations Research, 65(4):1095–1113.
L. Wang, J. Wissel (2013) Mean-variance Hedging with Oil Futures. Finance and Stochastics, 17: 641–683.
External Research Grants
Supply Chain Planning and Hedging: Managing Correlated Supply and Demand Risks. Funded by Research Grants Council of Hong Kong (General Research Fund). Project number: 17200521. Award amount: HKD679,667. Project period: September 1, 2021 - February 28, 2025.
“数字技术支持下慢性病共病医疗卫生服务动态监测和政策干预”， 子课题3 “慢病共病卫生服务供给数智化全程管理”联合负责人，四川大学。国家自然科学基金2023年度专项项目。
Working Papers
Y. Shen, L. Wang and X. Chen (2025) More is Different: Intrinsic and Financial Hedging in Multilocation Newsvendor Systems. Under Review. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4779512
H.Duan, J. Yao, L. Wang and S.X. Zhou (2026). Newsvendor’s Supplier Selection Problem with Correlated Supply and Demand Uncertainties. Under Review. https://www.researchgate.net/publication/400668592_Optimal_Procurement_of_Newsvendor_Facing_Correlated_Supply_and_Demand
L. Wang and D. D.Yao (2025). Clean-Tech Adoption and Risk Hedging. Under Review. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5719882
L. Wang, D.D.Yao and S. Zheng (2025). Supply-Chain Finance: A Sharing Contract via the Return Function. Under Review. https://papers.ssrn.com/abstract=5136189
Journal Referee
Management Science, Operations Research, MSOM, Production and Operations Management, Naval Research Logistics, Operations Research Letters, Stochastic Models.